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(WTOP)   Hard-hitting article using real journalism explores what's up with people paying their credit card bills so late all the time   (wtop.com) divider line
    More: Obvious, Payment, Credit card, credit card, Credit history, Cheque, Money, credit card accounts, A Great Way to Care  
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2926 clicks; posted to Main » on 09 Jul 2018 at 8:50 AM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2018-07-09 08:26:59 AM  
Without reading it, I'm going to guess that they don't have the money to pay it all off?
 
2018-07-09 08:28:16 AM  

Gubbo: Without reading it, I'm going to guess that they don't have the money to pay it all off?


It's more that they're disorganized, undependable slobs. But the two factors are probably at least somewhat related.
 
2018-07-09 08:45:02 AM  
Survey of 1000 people.  Did they just said they forgot or was it "forgot" but really didn't have the money to pay it.
 
2018-07-09 08:51:57 AM  
I haven't made a credit card payment in years.  No credit cards.  Score over 700.
 
2018-07-09 08:54:20 AM  

lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.


I have never owned credit card ever and my score is 2000 so I win.
 
2018-07-09 08:56:17 AM  
I only pay on time when my Fark subscription is about to renew.
 
2018-07-09 08:57:24 AM  
I use a cash-back credit card. I would urge the people in this article to continue doing what you're doing so you can finance my rebates. Thank you.
 
2018-07-09 08:59:34 AM  
I forgot  but I blame the 1%
 
2018-07-09 08:59:59 AM  
"...what's up with people paying their credit card bills so late all the time?"

They are horrible at personal fiscal responsibility?
 
2018-07-09 09:04:17 AM  
Learning by example.
 
2018-07-09 09:05:36 AM  

Rapmaster2000: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

I have never owned credit card ever and my score is 2000 so I win.


I come from a long line of people who don't use credit cards. I don't want to brag by posting my score, but let's just say it has a lot of
∞s in it.
 
2018-07-09 09:06:05 AM  
I came out a divorce with some $15k of joint (and the exes personal debt) long ago.  I never could convince her that if you didn't use the credit card, you could buy 18% more stuff.  It took me five years of poverty levels of austerity to pay off that debt.

I have a credit card.  I've used it twice this century, each time it was paid off within two months.  I retired early, have minimal income, and live simply.  I'm far happier.  I highly recommend against me getting married and sharing finances with anyone ever again.
 
2018-07-09 09:07:52 AM  

lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.


Get one, pay it off every month. Enjoy the cash back. Get a higher credit score.
 
2018-07-09 09:10:46 AM  
I had around 10,000 in credit card debt 20 years ago, but made the ADULT decision to
get rid of it (should have never done it in the first place!).  I did without for 2 years, no vacation,
no "extras", stayed home, worked, paid it all off.
Now I have 1 card, when I use it, I PAY IT OFF at the end of the month.  800+ credit rating.
You can do it, but, you have cut back in other areas of your spending, which, for some is impossible
to do because they would rather have stuff "now".
 
2018-07-09 09:11:03 AM  

Rapmaster2000: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

I have never owned credit card ever and my score is 2000 so I win.


My credit score is over 9000.
 
2018-07-09 09:12:11 AM  
Fiscal responsibility. How does it work?
 
2018-07-09 09:12:19 AM  

Sim Tree: Rapmaster2000: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

I have never owned credit card ever and my score is 2000 so I win.

My credit score is over 9000.


Are you using imperial units or metric?
 
2018-07-09 09:12:39 AM  

lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.


So you like loosing money and risking your "real" money?  If someone steals my credit card and runs around on the internet buying shiat, I am out nothing.  If they got my debit card I am out "real" money for a few days or longer depending on how shiatty the bank is and how much they want you to bounce your good transactions.

I make so much in cash rewards that it pays for my hotel rooms for vacation.  I pay everything by credit card and pay it off each month, haven't made an interest payment in years.
 
2018-07-09 09:13:02 AM  
*dashes in* Sorry I'm late! Is this the thread where we all circle jerk to how great our credit scores are? *removes pants* Mine's in the low 800s!
 
2018-07-09 09:13:26 AM  

Rapmaster2000: Sim Tree: Rapmaster2000: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

I have never owned credit card ever and my score is 2000 so I win.

My credit score is over 9000.

Are you using imperial units or metric?


That's in CCs, so, metric.
 
2018-07-09 09:14:48 AM  

Fabric_Man: *dashes in* Sorry I'm late! Is this the thread where we all circle jerk to how great our credit scores are? *removes pants* Mine's in the low 800s!


Well, I'm at.................9000!
 
2018-07-09 09:14:48 AM  
"I forgot" is a silly excuse in these days of online bill pay.  Every bill I receive, from the mortgage to credit cards to utilities, is scheduled for payment the morning after the bill arrives in the mail.  If I come home from a week's vacation to a stack of mail, I sort out whatever bills I've received and schedule them all for payment the following morning.  For the few bills that I don't receive in the mail or email (I have a coupon book for my motorcycle, for example), I have a Google calendar reminder setup that reminds me to make the payment on the same day every month.

It's pretty damn simple and typically takes me less than five minutes a day.
 
2018-07-09 09:15:03 AM  

Fabric_Man: *dashes in* Sorry I'm late! Is this the thread where we all circle jerk to how great our credit scores are? *removes pants* Mine's in the low 800s!


My credit score has a credit score so I'm pretty sure that makes me the victor.
 
2018-07-09 09:15:05 AM  

Sim Tree: Rapmaster2000: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

I have never owned credit card ever and my score is 2000 so I win.

My credit score is over 9000.


KAKAROT!!!!
 
2018-07-09 09:16:05 AM  
I'm another one who charges everything to a cash rewards card and pays it off every month. Paid for a trip to Maui last year.
 
2018-07-09 09:16:59 AM  

Wave Of Anal Fury: "I forgot" is a silly excuse in these days of online bill pay.  Every bill I receive, from the mortgage to credit cards to utilities, is scheduled for payment the morning after the bill arrives in the mail.  If I come home from a week's vacation to a stack of mail, I sort out whatever bills I've received and schedule them all for payment the following morning.  For the few bills that I don't receive in the mail or email (I have a coupon book for my motorcycle, for example), I have a Google calendar reminder setup that reminds me to make the payment on the same day every month.

It's pretty damn simple and typically takes me less than five minutes a day.


This - I used to be less than responsible with credit cards, and run up bills - but I always paid my minimum every month on time. The amount they require for you not to be delinquent is tiny, and there is no excuse for f**king your life up that much over that little money, and the trouble to be punctual.
 
2018-07-09 09:17:55 AM  
The survey was based on online responses from 1,000 consumers aged 18 years or order

img.fark.netView Full Size
 
2018-07-09 09:19:03 AM  
Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.
 
2018-07-09 09:19:48 AM  
"Almost one in five card holders - 22 percent . . . "

Maybe some of the late payers have math issues.
 
2018-07-09 09:20:38 AM  

lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.


Why don't you get a card that makes you money instead?  My credit card gives me 1 to 3% cash back on my purchases.  I pay off the balance every month so I don't pay any interest.  So far, Citi has bought me a new big screen tv plus around $600 cash back since I got it.  Make those greedy farkers pay you for a change.
 
2018-07-09 09:23:07 AM  
These people know automatic bill pay is a thing, right?
 
2018-07-09 09:30:55 AM  
I haven't bought anything since 1989. Anything I do buy I pay with a credit card and reap the 5% cash back rewards, and then I pay off that credit card bill every month so I don't pay the APR. I once scored 4 touchdowns in a game against St. Francis middle school and I own a jet ski. Dave Ramsey.

That about cover everything?
 
2018-07-09 09:31:35 AM  

Gubbo: Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.


Two years ago, I hit a piece of debris in the road that took out almost my entire exhaust line. $2,000 to repair. I was lucky. If you don't have the money that day, a bill like that will have you for life. Most credit card minimum payments don't cover monthly interest, meaning that if you only pay the minimum, your balance actually increases. And that's if you have a credit card. Payday loans are worse.

That's all it takes. A car breakdown, or a medical bill, or some cop who needs to make quota. You're the property of the bank.
 
2018-07-09 09:33:16 AM  

idrow: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

Why don't you get a card that makes you money instead?  My credit card gives me 1 to 3% cash back on my purchases.  I pay off the balance every month so I don't pay any interest.  So far, Citi has bought me a new big screen tv plus around $600 cash back since I got it.  Make those greedy farkers pay you for a change.


That's smart, but not everyone qualifies for that kind of card.
 
2018-07-09 09:34:25 AM  

Wave Of Anal Fury: "I forgot" is a silly excuse in these days of online bill pay.  Every bill I receive, from the mortgage to credit cards to utilities, is scheduled for payment the morning after the bill arrives in the mail.  If I come home from a week's vacation to a stack of mail, I sort out whatever bills I've received and schedule them all for payment the following morning.  For the few bills that I don't receive in the mail or email (I have a coupon book for my motorcycle, for example), I have a Google calendar reminder setup that reminds me to make the payment on the same day every month.

It's pretty damn simple and typically takes me less than five minutes a day.


I pay my bills before I even get them or know how much I owe. All the guys in my car club are super impressed.
 
2018-07-09 09:38:34 AM  

jso2897: This - I used to be less than responsible with credit cards, and run up bills - but I always paid my minimum every month on time. The amount they require for you not to be delinquent is tiny, and there is no excuse for f**king your life up that much over that little money, and the trouble to be punctual.


Same here.  Even though they were always paid on time, there was a time when I ran them up.  I even cranked the balances up to something like $25k combined, took out two debt consolidation loans to pay them off and replace them with fixed term debt, and even though I cut up most of the cuts I'd previously had, the two cards I kept were charged right back up to their limits again.  It almost put me into bankruptcy, especially because I then had to deal with the additional burden of medical bills from cancer surgery.

I've learned from it, though.  I check my checking account every day of the week, plus the joint account I have with my wife.  I budget obsessively (personal and joint budgets) and stick to those budgets.  I'm usually carrying a small amount of credit card debt, and depending on the balance, I usually pay it off every month.  Not at the moment -- I have vacation debt on the card now, and although I can pay it off this month if I want, I'm going to pay it off over three months instead, just to keep to my budget.
 
2018-07-09 09:38:36 AM  
I only use obscure South American game fowl to barter for goods and services. You've probably never heard of them. My credit score is over 30,000 hen's teeth.
 
2018-07-09 09:38:53 AM  

Wave Of Anal Fury: "I forgot" is a silly excuse in these days of online bill pay. Every bill I receive, from the mortgage to credit cards to utilities, is scheduled for payment the morning after the bill arrives in the mail. If I come home from a week's vacation to a stack of mail, I sort out whatever bills I've received and schedule them all for payment the following morning. For the few bills that I don't receive in the mail or email (I have a coupon book for my motorcycle, for example), I have a Google calendar reminder setup that reminds me to make the payment on the same day every month.

It's pretty damn simple and typically takes me less than five minutes a day.


You could have this situation that I have, where my chequing account usually has a balance of a couple of dollars. Funds to pay bills are held in a "high" interest savings account. The savings account cannot be used to pay bills - it can only transfer to/from the chequing account. A transfer from the savings account takes a day. A bill payment cannot be scheduled until there are funds available in the chequing account.

So if a bill comes in, I have to first transfer money into the chequing account, wait until the next day, then pay the bill. The two-step process means it's a lot easier to forget - usually on the second day.
 
2018-07-09 09:41:10 AM  

Fabric_Man: Gubbo: Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.

Two years ago, I hit a piece of debris in the road that took out almost my entire exhaust line. $2,000 to repair. I was lucky. If you don't have the money that day, a bill like that will have you for life. Most credit card minimum payments don't cover monthly interest, meaning that if you only pay the minimum, your balance actually increases. And that's if you have a credit card. Payday loans are worse.

That's all it takes. A car breakdown, or a medical bill, or some cop who needs to make quota. You're the property of the bank.


1) If you paid $2,000 to have your exhaust fixed, you got taken for a ride. Did they at least give you the common courtesy of a reach-around? Jesus. Farking. Christ.
2) Don't go to Midas or Meineke or any other "Ben Dova" repair shop.
3) A fully custom header back exhaust at any reputable exhaust shop would be under $700. I've had this done several times over the years.
4) If you're really hard up for cash, buy an ebay exhaust. Yes, it's a cheap shiat-ass exhaust that likely will rust out after a few years, but for $179.99, you can have a full exhaust shipped to your door.
 
2018-07-09 09:41:29 AM  
I pay my bills on time, ladies.
 
2018-07-09 09:43:22 AM  

trialpha: You could have this situation that I have, where my chequing account usually has a balance of a couple of dollars. Funds to pay bills are held in a "high" interest savings account. The savings account cannot be used to pay bills - it can only transfer to/from the chequing account. A transfer from the savings account takes a day. A bill payment cannot be scheduled until there are funds available in the chequing account.

So if a bill comes in, I have to first transfer money into the chequing account, wait until the next day, then pay the bill. The two-step process means it's a lot easier to forget - usually on the second day.


For me, under that scenario, the repercussions of paying a bill late are greater than the benefits of keeping your money in a "high" interest savings account until the last minute.  I'd rather transfer all of my budgeted expenses into the checking account at the beginning of the month and be done with it (assuming the savings balance is high enough to accommodate that).
 
2018-07-09 09:45:41 AM  

cheap_thoughts: idrow: lack of warmth: I haven't made a credit card payment in years.  No credit cards.  Score over 700.

Why don't you get a card that makes you money instead?  My credit card gives me 1 to 3% cash back on my purchases.  I pay off the balance every month so I don't pay any interest.  So far, Citi has bought me a new big screen tv plus around $600 cash back since I got it.  Make those greedy farkers pay you for a change.

That's smart, but not everyone qualifies for that kind of card.


Yep, the standard credit card charges poorer people $75 a year for the privilege of getting robbed.  Don't be poor with a credit card.
 
2018-07-09 10:03:17 AM  

jso2897: Wave Of Anal Fury: "I forgot" is a silly excuse in these days of online bill pay.  Every bill I receive, from the mortgage to credit cards to utilities, is scheduled for payment the morning after the bill arrives in the mail.  If I come home from a week's vacation to a stack of mail, I sort out whatever bills I've received and schedule them all for payment the following morning.  For the few bills that I don't receive in the mail or email (I have a coupon book for my motorcycle, for example), I have a Google calendar reminder setup that reminds me to make the payment on the same day every month.

It's pretty damn simple and typically takes me less than five minutes a day.

This - I used to be less than responsible with credit cards, and run up bills - but I always paid my minimum every month on time. The amount they require for you not to be delinquent is tiny, and there is no excuse for f**king your life up that much over that little money, and the trouble to be punctual.


Oh boy, there was a time that I was terrible with money.  TERRIBLE.

Now I have awesome credit, but the fear of going back to that place keeps me from ever buying things that I can't cover at the end of the month.  I still pay for everything on a card for the cash or points, but I'll never use a credit card as a method of monthly financing again.
 
2018-07-09 10:04:14 AM  

Fabric_Man: Gubbo: Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.

Two years ago, I hit a piece of debris in the road that took out almost my entire exhaust line. $2,000 to repair. I was lucky. If you don't have the money that day, a bill like that will have you for life. Most credit card minimum payments don't cover monthly interest, meaning that if you only pay the minimum, your balance actually increases. And that's if you have a credit card. Payday loans are worse.

That's all it takes. A car breakdown, or a medical bill, or some cop who needs to make quota. You're the property of the bank.


Step 1 of a Fiscal Plan:  Build an Emergency Fund.
 
2018-07-09 10:04:24 AM  

Wave Of Anal Fury: For me, under that scenario, the repercussions of paying a bill late are greater than the benefits of keeping your money in a "high" interest savings account until the last minute. I'd rather transfer all of my budgeted expenses into the checking account at the beginning of the month and be done with it (assuming the savings balance is high enough to accommodate that).


I get around it by just paying all of my bills with my credit card, then paying that off once a month when I get paid. Except the electricity bill, because those assholes won't take credit card payments.
 
2018-07-09 10:04:33 AM  
Cash-back credit card with auto-pay from checking.  *EVERYTHING* I normally buy goes on that card.
I get paid 2% to buy the stuff I'd buy anyhow.  Plus a rolling 30-day interest free loan.I believe I'm what credit card companies call a "freeloader".I realize that means all the prices I pay are marginally higher.  They're marginally higher whether I use the credit card or not.In the rare instances where the vendor offers a discount to pay with "cash" (or check), I'll do that.
 
2018-07-09 10:09:08 AM  

Gubbo: Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.


Psssh, yeah, those are mostly people who are so irresponsible as to have had a "medical emergency" that required "treatment" to save their "lives."  Even now, they're probably spending money they don't have on "medication" so they don't "die."  Such people are just ridiculous, they really should just pay everything off and stuff.

/No, no one ever "taught" me how to use "quotation marks," so I just make up a rule that seems to fit
 
2018-07-09 10:17:21 AM  

Fabric_Man: *dashes in* Sorry I'm late! Is this the thread where we all circle jerk to how great our credit scores are? *removes pants* Mine's in the low 800s!


No, that was last time.

This time we brag about how we never use credit, pay cash for all of our cars, pay cash for our house, and that we had no student loans because we worked our way through college back when tuition was $500 per semester.

/uphill
//in the snow
///both ways
 
2018-07-09 10:18:11 AM  

Madman drummers bummers: I use a cash-back credit card. I would urge the people in this article to continue doing what you're doing so you can finance my rebates. Thank you.


"Please keep peeing in the pool we're all in. It makes the water nice and warm."

The less people that go bankrupt (or just barely manage to tread water) in your economy, the better for you it is. They're financing banks at the expense of money they could otherwise put to consumer spending a lot more than they're financing your cc rewards.
 
2018-07-09 10:24:18 AM  

ObscureNameHere: Fabric_Man: Gubbo: Since we're all bragging. Let's remember that not everyone is in a position to pay off their credit card every month.

And yeah, not interested in your coming with "don't buy things you can't afford" arguments. Sometimes you actually need to. I'm thinking of the something like 60% of people who would be in serious financial trouble if they had an unexpected $500 bill.

Two years ago, I hit a piece of debris in the road that took out almost my entire exhaust line. $2,000 to repair. I was lucky. If you don't have the money that day, a bill like that will have you for life. Most credit card minimum payments don't cover monthly interest, meaning that if you only pay the minimum, your balance actually increases. And that's if you have a credit card. Payday loans are worse.

That's all it takes. A car breakdown, or a medical bill, or some cop who needs to make quota. You're the property of the bank.

Step 1 of a Fiscal Plan:  Build an Emergency Fund.


If the poor could just buy more money they would have an emergency fund.
 
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